Tag
NAIRA
Forex turnover dropped by 17.36% to $145.89 as the Nigerian naira tumbled against the dollar marginally on Friday, January 19th, 2024, in both the official and black markets.
In one week, the parallel market exchange rate witnessed a notable decrease, reaching a record low of N1,680 per Great Britain Pound (GBP).
The intraday high recorded N1261/$1 as the Naira gained against the dollar on Thursday, 18th January 2024 at the official market.
The naira sinks further against the dollar on Wednesday, January 17th, 2024, at the official and the parallel markets.
Naira on Wednesday fell to a record low of N1,320 per dollar following strong demand on the parallel market, also known as the black market.
Naira further gained against the dollar on Monday, 15th January 2024 at the official market but dropped marginally at the parallel market.
The naira consolidated at its lower range in the P2P market and black market while the dollar ticked higher on Monday as focus turned to a string of upcoming economic readings and the United States Apex Bank statement for market guidance on when the U.S Fed could begin trimming interest rates.
The Naira regained ground to appreciate massively against the dollar on Thursday 11th January 2024 at the official market after it maintained a record low on Wednesday 10th, 2024.
Forex turnover grew by 148.95% to $242.60 million as the Naira gained marginally against the dollar on Wednesday, 10th January 2024 at the official market to remain above the N1,000/$ threshold.
The Naira experienced a significant decline on Tuesday, January 9th, 2024, closing at N1,089.51 per dollar in the official market.
The value of the naira eroded significantly on Tuesday at the P2P market and physical black market despite the injection of FX liquidity at the official market and a substantial clearance of FX backlogs by Nigeria’s apex bank.
Naira further gained against the dollar on Monday, 8th December 2024 at the official market, marking the third gain in the New Year.